Crypto Whale James Wynn Doubles Down on Bitcoin, Opening a $1.2 Billion Long Position on Hyperliquid

Crypto whale James Wynn has made headlines again after dramatically increasing his Bitcoin exposure. He placed a $1.2 billion long position on Hyperliquid, a decentralized derivatives exchange.

Crypto whale James Wynn has made headlines again after dramatically increasing his Bitcoin exposure by placing a $1.2 billion long position on Hyperliquid, a decentralized derivatives exchange.

This comes shortly after he closed out positions in Ethereum (ETH), Sui (SUI), and PEPE, signaling a strategic shift toward Bitcoin as the market rallies.

According to blockchain tracker Lookonchain, Wynn opened a 40x leveraged position totaling 11,588 BTC, currently valued at about $1.25 billion. The liquidation level for the position is set at $105,180.

This move extends a series of aggressive Bitcoin trades Wynn began earlier in the week. On May 21, he opened a long position worth $830 million, from which he took a $400 million profit on the same day.

Since then, he has reloaded his position to over $1 billion as Bitcoin’s price climbed over the past two days.

Bitcoin price jumped to a new all-time high of more than $111,000, its highest point since January. The surge has been fueled by rising institutional interest and continued inflows into spot ETFs, driving renewed optimism across the crypto space.

Meanwhile, Wynn appears confident that the rally has more room to run, projecting that BTC could climb to between $118,000 and $121,000 in the near term.

“My prediction is that Bitcoin gets to $110,500 today. It should trade between $118,000 – $121,000 next week,” he stated.

His conviction is based on his experience using leverage of 5x to 40x to reportedly earn $46 million over a two-month period.

Furthermore, he also shared a screenshot on X, the social media platform formerly known as Twitter, showing that his latest Bitcoin long bet was up 13.4%. This indicates that the position had generated approximately $4.2 million in unrealized profit.

However, Wynn’s track record also includes blemishes. He recently closed his positions in Ethereum and Sui with a combined loss of $5.3 million. Nonetheless, he managed to offset those setbacks with a $25.19 million gain on a trade involving PEPE.